India has overtaken the U.K. and France to become the fifth largest economy in the world, Vice-President Jagdeep Dhankar says, and expresses optimism that the nation will emerge as the third largest economy by 2030.
Mr. Dhankar was speaking at the ongoing three-day centenary celebrations of Andhra Medical College (AMC) being organised at AU Convention Centre on the Beach Road here on October 28.
“India’s phenomenal growth has been recognised and acknowledged globally. The world has started looking at India, which has emerged as a soft power after hosting the G20,” he said.
As a prelude to the main G20 summit, deliberations had been held in almost every State, in association with the governments concerned, and the world came to know of the synergetic approach and the cultural ethos of India, he observed.
Mr. Dhankar said that Indian diplomacy, which primarily lays emphasis on the concerns of the world, found favour at the summit. “It is being seen as a problem solver and has become an agenda-setter,” the Vice-President said, and opined that these achievements were due to the visionary leadership of Prime Minister Narendra Modi and the affirmative policies of the Union government.
Investment destination
About three decades ago, the International Monetary Fund (IMF) functionaries used to say that India’s financial credibility was going down. “Today, the IMF says that India is the favourite destination for investments,” Mr. Dhankar said.
India’s digital penetration and spread in 2022 was more than the combined transactions of the U.S., the U.K., France and Germany. The per capita Internet data utilisation in 2022 exceeded that of the U.S. and China put together, he said.
AI and Robotics
The Vice-President said that India had recognised the importance of the rapidly changing technology landscape. The Centre for Artificial Intelligence and Robotics was set up to foster research and innovation in the sector.
“Indian innovations have attracted collaborations from nations such as the U.S., Germany and Japan. The NCERT is introducing a basic course in AI, and preparing a new curriculum framework to tap potential of the impressionable minds,” he said.
The Union Cabinet had approved ₹6,000 crore for National Quantum Mission to fund research and development in quantum computing technology and associated applications, he added.
